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China lets yuan fall faster, sends markets reelingChina accelerated the devaluation of the yuan on Thursday, sending currencies across the region reeling and domestic stock markets tumbling, as investors feared the Asian giant was kicking off a virtual trade war against its competitors. More… |
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UAE to set up Chinese yuan clearing centreThe UAE plans to establish a centre for clearing transactions in the yuan, the central bank said on Saturday, becoming the second country in the Middle East to do so as China's economic ties with the region boom. Qatar opened More… |
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DGCX to launch Chinese Yuan futures in DecemberThe Dubai Gold and Commodities Exchange (DGCX) is slated to launch Chinese Yuan futures, scheduled for December 18, subject to regulatory approvals. The new launch is part of DGCX’s efforts to make the Yuan accessible to reg More… |
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StanChart eyes London yuan market shareStandard Chartered Bank plans to offer preferential interest rates and waive clearing fees as part of its strategy to win market share for the growing yuan business in London. StanChart said on Monday it will cooperate with Agricu More… |
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BankMuscat to offer Yuan paymentsBankMuscat, a leading financial services provider in Oman, said it has signed a strategic pact with Bank of China to offer payments in Chinese currency Yuan. With this tieup, BankMuscat becomes the first Omani bank to enable payments in th More… |
